Hibs boss Alan Stubbs was appointed in June instead but the Scot only lasted until October with Jackett taking his place. But his resignation could see Rotherham returning to Mowbray, who is without a club, with his odds cut to 1/2 with league sponsor Sky Bet.

Mowbray decided to leave Coventry City after 18 months in charge of the struggling League One club in September but told the Coventry Telegraph earlier this month that he was ready to get back to work after taking time out with his family.

“Hopefully another opportunity will come around, I have had some interesting conversations with a few people over the last four or five weeks," he said.

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Mowbray led West Bromwich Albion to the Championship title in 2008 before he headed to Celtic the following season. He had since worked for Middlesbrough before taking the job at Coventry in March 2015.

Paul Warne has been handed temporary control of the first-team affairs at Rotherham and is second favourite at 4/1.